Qiu, Leiju; Guo, Dongmei; Niu, Ruqi - 2021
This paper analyzes how the competition among real estate brokers impacts housing prices in a typical sellers’ market … in China. In a theoretical model, we discover a broker competition mechanism in which brokers compete for listings by … exclusive agency and the broker’s effort positively relate to higher housing prices. It is found that the number of brokers …